E12-21A (book/static) Question Help The financial statements of Explorer News, Inc., include the following items: E (Click the icon to view the financial statements.) Read the requirements. Requirement 1. Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number. Data Table a. Current ratio. Select the formula and then enter the amounts to calculate the current ratio. (Round the ratios to two decimal places, X.XX.) 2018 2017 2016 Current ratio Balance sheet: 2018 Cash 77,000 $ 103,000 2017 Short-term investments 20,000 Requirements Net receivables 84,000 35,000 18,000 81,000 96,000 7,000 Inventory 58,000 70,000 6,000 279,000 283,000 Prepaid expenses Total current assets Accounts payable Total current liabilities 45,000 35,000 40,000 a. 130,000 97,000 C. Income statement: Net credit sales $ 493,000 $ 507,000 e. 1. Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number. Current ratio b. Quick (acid-test) ratio Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover Days' sales in average receivables or days' sales outstanding (DSO) Accounts payable turnover and days' payable outstanding (DPO). Use cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When calculating days, round your answer to the nearest whole number.) 2. Evaluate the company's liquidity and current debt-paying ability for 2018. Has it improved or deteriorated from 2017? 3. As a manager of this company, what would you try to improve next year? f. Cost of goods sold 280,000 278,000 Print Done Choose from any list or enter any number in th